I could see this working if you tried it this way:-buy a very distressed property that somehow still qualifies as "livable"-perform a live-in-flip style operation, minus the flip at the end-do a cash out refi based on the higher value after renovationYou'll have to make sure your cost of renovations are much lower than the equity built.

Get familiar/expert in specific strategy (ie large multifamily, in class c or b, distressed, all cash, using BRRR strategy) 2.

On the flip side if it was significantly distressed it's possible that your hypothetical $30k actually added more value than that to the property. looking at it in terms of percentage isn't really the best approach to look at how much value you've added to a property. 

And even then, I am only grabbing the distressed properties so I am buying 10-15% below the current market prices in that community as a result of a short sale or foreclosure. 

My question is directed solely toward MLS listings of non distressed properties.

A full description can found in the RCW itself and the subsequent Washington State Supreme Court Opinion on the Washington State Legislature website and linked below.Attorneys tell us "the penalty for engaging in a "pattern" of equity skimming that is set forth in the Distressed Property Conveyances Act is found in RCW 9.94A, as a Class B Felony, Level II offense", which can include confinement in a state correctional institution, fine or both.

Derrick,There could be a couple of reasons for this;- Current owner purchased via taxes / distress / etc. and received no operating information.

Another great way to find motivated sellers is to network with Realtors and other investors and letting them know you are buying distress properties. 

Looks like your purchasing a Distressed Property for Retail price and then renovating... 

Hey everyone,I wanted to get some input on how to offer a wholesale offer on a home that's not really distressed or as o call "pretty".